A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Fifth Street Asset Management Inc (NASDAQ:FSAM) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on March 27, 2017 and NASDAQ:FSAM investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 03/27/2017 --The Shareholders Foundation announces that a deadline is coming up on March 27, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Fifth Street Asset Management Inc (NASDAQ:FSAM) during initial public offering, which began on approximately October 30, 2014.

Investors who purchased a significant amount of shares of Fifth Street Asset Management Inc (NASDAQ:FSAM) during initial public offering, which began on approximately October 30, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Fifth Street Asset Management Inc (NASDAQ:FSAM) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/fifth-street-asset-management-inc-nasdaq-fsam-investor-securities-class-action-lawsuit-01072016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is March 27, 2017. The class action administrator for this case is A.B. Data Ltd.

The lawsuit was originally filed in the U.S. District Court for the District of Connecticut over alleged violations of Federal Securities Laws by Fifth Street Asset Management Inc in connection with Fifth Street Asset Management Inc's October 30, 2014 initial public offering. According to the complaint the plaintiff alleges on behalf of those who purchased shares pursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with FSAM's October 30, 2014 initial public offering ("IPO"), that the defendants violated the Securities Act of 1933. More specifically, the plaintiff claims that that the offering documents filed in connection with the IPO contained allegedly materially false and misleading statements of fact and allegedly failed to disclose facts necessary to make the statements made therein not misleading, including, among other statements, that Fifth Street Asset Management Inc had $4.2 billion assets under management from Fifth Street Finance Corp as of June 30, 2014, when in fact a substantial portion of FSC's portfolio had been impaired on a cost basis prior to the IPO, that Fifth Street Asset Management Inc had increased its management fee revenues by a compound annual growth rate of nearly 50% year-over-year during the six months ended June 30, 2014 due to Fifth Street Asset Management's "outstanding performance," when in fact the growth in fee revenue was largely due to the overstatement of Fifth Street Finance Corp's assets and dilutive stock offerings detrimental to the Funds' shareholders, and that Fifth Street Asset Management Inc had "high-quality and predictable earnings," when in fact Fifth Street Asset Management's revenues were unsustainable and the result of conduct that placed Fifth Street Asset Management's most important asset – its management contract with Fifth Street Finance Corp – at risk.

Those who purchased shares of Fifth Street Asset Management Inc (NASDAQ:FSAM) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com